Guideline Value for Kulakarai Street

Kulakarai Street guideline value

The current guideline value of Kulakarai Street is Rs 850 per sq.ft, effective from 1 July 2024. This street is located in Gowrivakkam village, under the Selaiyur SRO, and is classified as Residential Class II Type - II.

How the guideline value of Kulakarai Street has changed

The guideline value for Kulakarai Street has seen several revisions over the years. The most recent revision in 2024 set the value at Rs 850 per sq.ft, an increase from Rs 800 per sq.ft in the 2023 revision. Prior to that, the 2017 revision recorded a value of Rs 536 per sq.ft, which was a significant rise from Rs 800 per sq.ft in the 2012 revision. The register has no figures for the years 2002, 2003, and 2007.

From 2012 to 2017, there was a decrease of 33%, but the value rose by 49% from 2017 to 2023. Overall, from 2012 to 2024, the guideline value has increased by 6%.

Guideline values in Gowrivakkam

In Gowrivakkam, there are 130 streets under the Selaiyur SRO with a 2024 guideline value ranging from Rs 840 to Rs 3,750 per sq.ft. The median value is Rs 2,200 per sq.ft, making Kulakarai Street's 2024 figure below that median.

• K.V.I.C.Nagar: Rs 2,200 per sq.ft (2024)
• K.V.I.C Nagar Pirathana Salai: Rs 2,200 per sq.ft (2024)
• Metro Apartments: Rs 840 per sq.ft (2024)
• Mutharamman Koil Street: Rs 840 per sq.ft (2024)
• Indira street: Rs 860 per sq.ft (2024)
• Nagalingam Street: Rs 1,600 per sq.ft (2024)

Stamp duty and registration fee for property in Kulakarai Street

For a 1,000 sq.ft plot at the current rate of Rs 850 per sq.ft, the guideline value amounts to Rs 8,50,000. The stamp duty at 7% would be Rs 59,500, and the registration fee at 2% would be Rs 17,000, bringing the total to Rs 76,500. Please note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Kulakarai Street?

The Sub Registrar Office that covers Kulakarai Street is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Gowrivakkam

The guideline value is a crucial factor when registering property transactions in Gowrivakkam. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that both buyers and sellers adhere to the prescribed rates set by the government.

When purchasing or selling property, the guideline value helps determine the minimum value at which the property can be registered. This ensures transparency and compliance with legal requirements during the transaction process.

Frequently asked questions

What is the current guideline value of Kulakarai Street?

The current guideline value of Kulakarai Street is Rs 850 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 800 per sq.ft in 2023 to Rs 850 per sq.ft in 2024. It was Rs 536 per sq.ft in 2017 and Rs 800 per sq.ft in 2012.

What is the land classification for Kulakarai Street?

Kulakarai Street is classified as Residential Class II Type - II, indicating its suitability for residential development.

Where can I find the Sub Registrar Office for Kulakarai Street?

The Selaiyur Sub Registrar Office covers Kulakarai Street and is located at No.36, Bharathmatha Salai, Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.

How is the stamp duty calculated for properties in Kulakarai Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at Rs 850 per sq.ft would incur a total stamp duty and registration fee of Rs 76,500.